Here is a recap of major activities that happened in Africa in the last 7 days. You can watch the video here:
- Cameroon Automobile Industry Company started construction on a car assembly plant in Douala. The facility will assemble private and commercial vehicles for the domestic market. The plant will be commissioned in 2021.
- In Gabon, Perenco will acquire stakes in seven oil fields and the Cap Lopez oil terminal from Total Gabon for $290 to $350 million.
- Ethiopia vaccinated close to 15 million children against measles during a nationwide vaccination drive over the last 2 weeks.
- The Ethiopian government unveiled a locally assembled electric car by Marathon Motor. This is a joint venture between Hyundai and marathon runner Haile Gebrselassie.
- International airlines can resume flights in Kenya this week.
- Total expects to start gas exports from its LNG plant in Mozambique by 2024.
- IMF disbursed US$171.9 million to Madagascar as part of its rapid credit facility. This is the second disbursement bringing the total to $337.9 million.
- The African Development Bank granted $25 million to Somalia.
- Total Uganda issued tenders for a large scale onshore oil project in Uganda.
- The German government granted Euro 58.4 million to the Ugandan government.
- In Egypt, Total, along with its partners BP and ENI, announced that it had made a significant gas discovery at an offshore well in the Mediterranean.
- The Arab Monetary fund signed a $649 million loan with Egypt. Funds will be used to support reforms in the public finance sector amid the coronavirus pandemic.
- Morocco’s king announced a plan of $12.8 billion in stimulus to aid the country’s recovery from COVID-19.
- Tunisia’s interior minister was appointed as the new prime minister.
- Gaborone, Botswana’s capital reinstated a two-week lockdown to curb a second wave of the coronavirus.
- Eswatini received an emergency loan from the IMF to the value of $110 million.
- Lesotho received a $49.1 million emergency loan from the IMF in support of its fight against the COVID-19 pandemic.
- Namibia approached the IMF for $274 million in funding to help fight COVID-19.
- The IMF approved South Africa’s request for a US$4.3 billion loan to support its fight against the COVID-19 pandemic.
- The African Development Bank approved $53 million as a grant to The Gambia, Liberia and Sierra Leone in support of measures against COVID-19 pandemic
- In Ghana, President Akufo-Addo attended a groundbreaking ceremony on the $49 Million Damongo Water Project
- Ghana’s Komenda Sugar Factory raised investment from Agrotech to the value of $21 Million.
- The African Development Bank approved a $69 million grant to Ghana to support its COVID-19 response plan.
- The World Bank Board approved a total of $300 million in credits and grants that will help promote electricity trade in West Africa.
- Nigeria will comply with 1.4 million BPD OPEC output quota.
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